The seasonally adjusted estimate for total dwellings approved in Australia fell 8.1% month-on-month to 11,594 units in April 2023, accelerating from a revised 1.0% decline in March, a final reading showed. Private sector houses decreased 3.8% to 7,939 units in April, while private sector dwellings excluding houses slumped 16.5% to 3,469 units. On a geographical basis, total dwelling approvals fell in Queensland (-22.8%), Victoria (-18.6%) and Western Australia (-5.8%). Meanwhile, total dwellings rose in South Australia (19.8%), New South Wales (12.5%) and Tasmania (3.5%). source: Australian Bureau of Statistics
Building Permits MoM in Australia averaged 0.31 percent from 1983 until 2023, reaching an all time high of 39.60 percent in February of 2022 and a record low of -26.50 percent in January of 2023. This page includes a chart with historical data for Australia Dwelling Approvals MoM. Australia Dwelling Approvals MoM - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Building Permits MoM in Australia is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Dwelling Approvals MoM is projected to trend around 1.50 percent in 2024 and 1.90 percent in 2025, according to our econometric models.